Ardmore Continues Fleet Expansion Plan with $118 Million Newbuild Order

ardmore seaventure
Ardmore Shipping took delivery of the 49,999 dwt IMO 3 Tanker from SPP Shipbuilding on June 10th, and it was immediately chartered to Cargill.

Ardmore Shipping Corporation (NYSE:ASC) signed newbuild contracts today with Fukuoka Shipbuilding for four 25,000 dwt IMO 2 eco-design product & chemical tankers.

The orders come at a total price of approximately $118,000,000, plus fixed price options for additional ships. Deliveries are expected in Q4 2014 and Q4 2015.

This order comes a week after Ardmore placed a $65.4 million order for two 37,000 dwt IMO 2 eco-design chemical tankers from South Korea’s Hyundai Mipo Dockyard Co.

Ardmore’s current fleet stands at 8 with 12 ships on order.